3 Tips to Survive the Crypto Winter and Become a Better Long-Term Investor
Just when it looked like the crypto market was finally stabilizing after a steep sell-off earlier in the year, along came the overnight meltdown of cryptocurrency exchange FTX and a wave of panic selling by crypto investors. Understandably, many investors are now concerned about the future of their crypto portfolios, and some are now looking to exit the market entirely in search of less risky assets.
Things could look precarious in the short term, especially when some of your favorite cryptos may have been knocked down 20% or more in just one week. However, now is not the time to abandon the type of long-term thinking that is the key to unlocking future wealth. Here are three steps you can take to focus on the long run and become a better overall crypto investor.
Just two cryptocurrencies -- Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) -- account for more than one-half of the total crypto market capitalization. Bitcoin has a market cap of $320 billion and Ethereum has a market cap of $148 billion, while the total value of the crypto market as a whole is $833 billion. That's why some investors refer to Bitcoin and Ethereum as "blue-chip cryptos." On a relative basis, these two cryptocurrencies are less risky and less volatile than the rest of the crypto market.
Source Fool.com
